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QuickBooks Tutorial 2-7: Setting Up Vendor Types

Posted by AccountingWEB in QuickBooks on 03/11/2009 - 10:33

QuickBooks provides you with the means for defining different vendor types. You can use these types to classify your vendors in any way that is meaningful to your business. For example, you might want to classify vendors by geographic location, by the length of time in which you have dealt with them,, or by the type of service they provide.

 
Note: Vendor classification is optional – you don’t have to use this feature.
 
Step 1: Open the Vendor Type List
Open the Lists menu and choose Customer and Vendor Profile Lists. From the side menu, choose Vendor Type List. The Vendor Type List will appear. This list will be empty if you have not used this feature in the past. Otherwise it may already contain some existing types.
 
Step 2: Add a New Vendor Type
Click the Vendor Type button in the Vendor Type List window, then choose New, or simply press Ctrl n. The New Vendor Type window will appear.
 
Step 3: Enter the Vendor Type.
Enter a name for your new Vendor Type. QuickBooks allows you to assign sub-types within your vendor types, so you can make this vendor type a sub-type of an existing vendor type if you desire.
 
Step 4: Save the Vendor Type
Click OK to Save the new vendor type and return to the Vendor Type List. Alternatively, you can click Cancel if you changed your mind and don’t want to create this vendor type, or you can click Next if you want to setup another vendor type.
 
Step 5: Close the Vendor Type List
Click the “x” in the upper right corner, or press the ESC key to close the Vendor Type List window. Your new vendor type is ready for use.
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